Nation-State Bitcoin Actions
(as of November 2025)
Strategic Bitcoin Reserve Proposals
United States (Mar 2025) — Executive Order established a Strategic Bitcoin Reserve, funded through forfeited assets.
Brazil (Nov 2024; hearings 2025) — The “RESBit” proposal allows up to 5% of national reserves to be held in BTC.
Czech Republic (Jan 2025) — CNB Governor Aleš Michl proposed analyzing a bitcoin test portfolio within foreign-exchange reserves (up to 5%).
Pakistan (May 2025) — Government announced creation of a Strategic Bitcoin Reserve and allocation of ~2GW for BTC mining and AI data centers.
- France (Nov 2025) — Lawmakers introduced a bill to build a national bitcoin reserve targeting ~2% of supply (~420 000 BTC) over 7–8 years.
Sovereign Holdings / SWF Exposure
- El Salvador (2021) — Continuing direct BTC purchases since 2021; official ONBTC tracker lists ~$550 million holdings as of Mar 2025.
Norway (2024–25) — The Government Pension Fund Global (via Norges Bank Investment Management) holds indirect bitcoin exposure of ~3,821 BTC (~$356m) at end-2024, rising to ~7,161 BTC (~$840m) in 2025, through equity holdings in bitcoin-treasury companies.
- United Arab Emirates (Mar 2025) — Mubadala disclosed ~$408 million stake in the iShares Bitcoin Trust (IBIT) per SEC 13F filings.
- Luxembourg (Oct 2025) — Finance minister confirmed the FSIL sovereign fund allocated ~1% via spot BTC ETFs.
State-Backed Mining Programs
Bhutan (2019) — Sovereign holding company mining since 2019; DHI–Bitdeer joint venture announced May 3 2023 to scale capacity.
Oman (2023) — Government-backed $1.1 billion / 800 MW data-center and BTC-mining initiative launched as part of industrial-diversification policy.
- Russia (2024) — Parliament legalized industrial crypto-mining in 2024, enabling cross-border settlements via crypto.
Pakistan (2025) — Part of its Strategic Bitcoin Reserve plan includes state-funded mining sites tied to the 2 GW energy allocation.
No comments:
Post a Comment